Crude Oil Refinery Owners Association of Nigeria (CORAN) has said that the price of Premium Motor Spirit (petrol) can drop below N400 per litre with the current crash in crude oil prices. CORAN argued that there is no reason petrol should not be sold at N350 per litre if crude prices eventually fall to $50 per barrel. CORAN said petrol …

NNPC Limited (NNPCL) has strongly refuted claims alleging the termination of the Naira-for-Crude agreement with Dangote Refinery. NNPCL emphasised that it has consistently supplied the refinery with a total of 84 million barrels of crude oil since the refinery began its operations in 2023. In a statement on Monday, the NNPCL Chief Corporate Communications Officer, Mr. Olufemi Soneye stated that …